Centene Corporation (CNC) Position Lifted by Hartford Investment Management Co.

Hartford Investment Management Co. increased its holdings in shares of Centene Corporation (NYSE:CNC) by 4.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,409 shares of the company’s stock after acquiring an additional 1,611 shares during the period. Hartford Investment Management Co.’s holdings in Centene were worth $3,814,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Centene by 4.9% during the second quarter. Vanguard Group Inc. now owns 16,726,500 shares of the company’s stock worth $1,336,113,000 after acquiring an additional 774,474 shares during the period. State Street Corp grew its holdings in Centene by 0.5% in the second quarter. State Street Corp now owns 7,154,348 shares of the company’s stock valued at $571,504,000 after purchasing an additional 35,040 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Centene by 47.8% in the third quarter. Ameriprise Financial Inc. now owns 5,181,047 shares of the company’s stock valued at $502,999,000 after purchasing an additional 1,676,688 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Centene by 12.4% in the second quarter. Wells Fargo & Company MN now owns 4,193,466 shares of the company’s stock valued at $334,973,000 after purchasing an additional 462,936 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Centene by 13.1% in the second quarter. Dimensional Fund Advisors LP now owns 2,249,254 shares of the company’s stock valued at $179,673,000 after purchasing an additional 259,662 shares during the last quarter. 92.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Centene Corporation (NYSE CNC) opened at $101.10 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.99 and a quick ratio of 0.99. Centene Corporation has a 12-month low of $54.40 and a 12-month high of $102.99. The stock has a market capitalization of $17,446.42, a price-to-earnings ratio of 19.26, a PEG ratio of 1.54 and a beta of 0.70.

Centene (NYSE:CNC) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.11. Centene had a return on equity of 14.79% and a net margin of 1.81%. The business had revenue of $11.90 billion for the quarter, compared to the consensus estimate of $11.75 billion. During the same period in the prior year, the business earned $1.12 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. sell-side analysts anticipate that Centene Corporation will post 4.98 EPS for the current fiscal year.

In other news, Director Robert K. Ditmore sold 4,167 shares of the company’s stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $90.42, for a total value of $376,780.14. The sale was disclosed in a filing with the SEC, which is available through this link. 3.00% of the stock is owned by corporate insiders.

CNC has been the topic of several research reports. BidaskClub raised Centene from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Piper Jaffray Companies reissued a “buy” rating and issued a $105.00 target price on shares of Centene in a report on Friday, September 1st. Cantor Fitzgerald upped their target price on Centene to $107.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. Cowen reissued an “outperform” rating and issued a $105.00 target price (up previously from $77.00) on shares of Centene in a report on Wednesday, September 13th. Finally, Leerink Swann reissued a “market perform” rating and issued a $90.00 target price (up previously from $78.00) on shares of Centene in a report on Wednesday, September 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the company. Centene currently has an average rating of “Buy” and an average target price of $99.11.

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Centene Company Profile

Centene Corporation is a healthcare company. The Company provides a portfolio of services to government sponsored healthcare programs, focusing on under-insured and uninsured individuals. The Company operates through two segments: Managed Care and Specialty Services. The Company’s Managed Care segment provides health plan coverage to individuals, through government subsidized programs, including Medicaid, the State Children’s Health Insurance Program (CHIP), Long Term Care, Foster Care, dual-eligible individuals (Duals) and the Supplemental Security Income Program, also known as the Aged, Blind or Disabled Program (ABD), Medicare, and Health Insurance Marketplace.

Institutional Ownership by Quarter for Centene (NYSE:CNC)

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